This story originally appeared in the January 2016 edition of Georgia's Cities.
In Oct. 2015, the Peachtree Corners city council approved a $300,000 investment for the launch of a business incubator program.
The step is part of a nearly year-long effort to set up the program that will support budding entrepreneurs. The city is partnering with Georgia Tech’s Advanced Technology Development Center (ATDC). The Georgia Tech program offers support by providing expertise and resources in launching and maintaining a successful incubator program. ATDC is currently ranked as one of the world’s top technology incubators and was named a Top 12 Incubator Changing the World by Forbes in 2013.
“Incubators provide real payback to a community and its residents, said Peachtree Corners Mayor Mike Mason. “It leads to the creation of jobs and is one of the best economic development tools a city can employ.”
Wayne Hodges, a co-founder of Georgia Tech’s highly successful ATDC and current consultant for the city, said Peachtree Corners is an ideal community for an incubator.
“A recent readiness study showed there is a real need and tremendous support for an incubator,” he said.
The next steps are finding a location in Peachtree Corners suitable to serve as its incubator headquarters and bringing in the support necessary for its launch.
“It’s a win-win for communities with a successful incubator,” Mason said. “The program not only supports startups in their early years, but those new business owners tend to stay in the same community adding jobs as their businesses grow.”